Scam 1992 web series has been recently released and it has already taken the viewers by storm. This new web series is the result of the collaboration of directors Jai Mehta and Hansal Mehta. The web series is supported by writers Saurav Dey and Sumit Purohit.
The makers of Scam 1992 have put in a lot of effort to present a binge-worthy web series. The hype about the release of the series is real. The first season has arrived with just 10 episodes, but they are enough to get you glued to the screens.
The story is based on the real Harshad Mehta scam in 1992. The web series outlines the story of Harshad Mehta’s rise and his tragic end. For those who haven’t watched it yet, no worries, as it was released on 9th October which means you still have time to catch up.
If you are interested to know more about the new web series, then we have all the details laid out in the post. Don’t blame us for any spoiler alert.
Scam 1992 Availability & Other Details
The new web series, Scam 1992 is released on 9th October 2020. This is a crime drama that is based on a true incident. The story focuses on the 1992 scam caused by Harshad Mehta who scammed everyone.
Right now only the first season is out and it has a total of 10 episodes. The web series is available on SonyLiv Premium. To access the full web series, you need to subscribe to the said platform.
The newly released web series is rated 9.6/10 by IMDB. If you are yet to watch it, then you should start now.
Scam 1992 Cast & Characters
Here are the brief details of the cast and characters of the show:
1. Pratik Gandhi is playing the lead role of Harshad Mehta
2. Shreya Dhanwanthary is seen playing the role of Sucheta Dalal
3. Nikhil Dwivedi is casted as Tyagi
4. Chirag Vohra is playing the character of Bhushan Bhatt
4. Sharib Hashmi will be seen as Sharad Bellary
5. Anant Mahadevan is in the role of S. Venkitaramanan
6. K.K. Raina is playing the role of Manohar Pherwani
7. Rajat Kapoor is casted as K Mahadhavan
8. Satish Kaushik is playing the role of Manu Mundra
9. Anjali Barot is appearing as Jyothi Mehta
10. Lalit Parimoo is cast as Lalit
11. Ivan Sylvester Rodrigues As Fortune India Editor
12. Mamik Singh As City Bank Official
Scam 1992 Plot Summary
The newly released web series have viewers fawning and gushing over the mind-blowing plot. Not just that but they even loved the cast and their incredible acting. The makers seem to have paid attention to every detail of the show. No doubt, they have done an amazing job and the results are in front of you.
The scam of 1992 is one of the biggest scams that has ever happened in India. The mastermind behind the scam was Harshad Mehta himself, who is also referred to as the Big Bull.
Harshad was born in a Gujarati Jain family in Mumbai. He created history with his Rs 49.99 billion scams. His scam not only exposed his con activities but also highlighted the several loopholes in the Bombay Stock Exchange and banking system of India.
Harshad started his career as a mere salesman in New India Assurance Company. Later he decides to enter B.Ambalal & Sons, which is a brokerage firm. It took him just two years to create a reputation for himself in the Indian Stock market. Soon he was called the Amitabh Bachchan of the Stock Market.
He became so successful that he even went on to establish his own company, GrowMore Research, and Asset Management. It didn’t take much time for his business to prosper. His company was entrusted by many big investors and people including Mr. P. Chidambaram.
With his simple master plan, he manipulated the price of ACC cement to Rs 9000 from just Rs 200. This took him just three months. With his carefully planned scheme and few brokers, he acquired the power to disrupt the stock market, especially Sensex.
Index of Scam 1992 [List of 10 Episode Name]
|1.||“Risk Se Ishq”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|2.||“Cobra Killer”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|3.||“Paise Ki Dukaan”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|4.||“Harshad Mehta Is A Liar”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|5.||“Kundli Mein Shani”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|6.||“Stop Press”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|7.||“Dalal Street Ke Dariya”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|8.||“Matador”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|9.||“Ek Crore Ka Suitcase”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
|10.||“Main History Banana Chahta Hoon”||Hansal Mehta, Jai Mehta||Sumit Purohit, Saurav Dey||Watch Now|
The Biggest Scam Story of All Times
By now Harshad Mehta had established himself as a big person in the Indian Stock Market. This helped him fool many people who believed in his self-made theories.
Mehta claimed that the replacement value of assets of ACC is higher than market capitalism. He applied his ‘water & gold’ theory which explained that water is cheaper even though it saves a life, as it is available in vast quantities. On the contrary, gold is expensive even though it doesn’t have any real value. Water sold in the Sahara Desert would be automatically costly because it is not available in plenty.
With his theory, he created an artificial scarcity in the stocks. This increased the prices to an unbelievable level.
Now the question is where did he get the capital to invest from? Well, this is what the web series is all about. Back then banks were not allowed to invest in equity markets. They were required to show proof of their gains and also maintain a certain amount of assets in the Government’s Fixed Interest Bonds.
Mehta was clever enough to acquire the cash from banks and then invest it in the stock market. He promised to help the banks and return them an increased value. He got the deposit in his account and disguised himself to buy stocks from them using his other bank accounts.
Back then the banks had to use a broker to buy securities. To cut out the middleman from the scene, Mehta used the cash as a volatile fund in his account and then invested it in the shares. This helped him to raise the share price of certain companies such as Sterlite Industries, ACC, and Videocon.
After that, he sold off the shares, gave a certain portion to the banks, and secured the rest of the amount for himself. To play out his plan perfectly, he delivered payments and securities through brokers. This way both buyers and sellers remained unknown to each other.
This scam was also geared by the bank receipt which confirmed the sale of securities. What happened is that the buying and selling never happened in reality, but the buyers received a bank receipt. All it took was two banks to win the scam. These banks were almost non-existent, one is Metropolitan Co-operative bank and the other is Bank of Karad.
The banks issued the fake receipts and passed onto others, while Mehta bagged all the money. The buyers were given the impression that they are buying government securities, but that in actuality that never happened.
Expose of The 1992 Scam
The entire scam fell apart when a journalist named Sucheta Dalal from Times of India, decided to dig deep into the matter. The journalist took to the Times of India column to expose Mehta. She let everyone know how he was scamming everyone including the Indian banking system.
Once his scam was exposed, numerous banks realised that they were holding receipts with no actual value. The news reached the parliament, after which Mehta was arrested.
The Chairman of Vijaya Bank ended his life because he was found guilty of issuing fake bank receipts. After some time, Mehta came back and launched his website where he shared stock tips with the viewers. Not just that, but he even worked for many of the companies and advised them on their shares.
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Death of the Scam Artist, Harshad Mehta
Later in life, Harshad Mehta was captive in the Thane prison. While he was in his prison sail, he complained about his continuous chest pains. He was soon taken to the Civic Hospital where he breathed his last at the age of 47. It was 31st December when he died.
Well, that’s all you needed to know about the greatest scam story and how it came to an end. This web series is not the one to be missed. With each episode, it gets intense. The series is currently available on SonyLiv Premium. Once you get your subscription, you can access the full first season which has 10 episodes.
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Scam 1992 series contains all the official and ethical links along with the season recap. This is strictly meant for entertainment purposes only and not to be used otherwise. Our main objective is to share basic knowledge with our viewers. We have provided the official links, so viewers can watch Scam 1992 online. However, we don’t hold rights to any of the content that is shared on this platform.
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FAQs about Scam 1992 (Harshad Mehta Story)
Scam 1992 is a newly released web series that came out on 9th October 2020. The show is available on SonyLiv Premiere. To watch the full web series, you need to first get your subscription.
Right now the web series, Scam 1992 has just one season which comprises a total of 10 episodes. Each of the episodes is 50 minutes long.
Scam 1992 is made with the collaborative efforts of Hansal Mehta and Jai Mehta. However, the direction was led by Hansal Mehta himself.
If you want to watch the Scam 1992 web series, then you need to subscribe to SonyLiv Premium. Once you get your subscription, you can access all the content on the platform.
The 1992 scam was caused by Harshad Mehta. He conned the Indian stock market which led to the collapse of the whole securities system. Mehta allegedly committed a fraud of billions of dollars from the Indian banking system to buy stocks on the Bombay Stock Exchange.
Harshad Mehta, the 1992 scam artist was finally exposed by Times of India journalist, Sucheta Dalal. On April 23rd, 1992, Sucheta Dalal exposed the illegal methods practised by Mehta in a column in The Times of India newspaper. Mehta was illegally using the Indian banking system to support his purchases in the stock market.
Harshad Mehta was put under criminal custody in the Thane prison. One night while he was in prison, he complained of severe chest pain at the night. He was soon taken to the Thane Civil Hospital where he died due to heart ailment. The date was December 31st, 2001.
Harshad Mehta took advantage of the numerous loopholes in the banking system to defraud them of thousands of crores. It is said that he laundered more than Rs 24,000 crore within three years.
For someone who gained massive popularity after the Scam 1992 scandal, Sucheta Dalal is currently the Managing Editor of Moneylife magazine. Following the poor financial literacy and understanding in India, Sucheta and her husband founded the magazine as a non-profit organization in Mumbai.
While most people consider Harshad Mehta as the villain of the entire show, many people tout him as a hero. However, we need to understand that he was neither a villain nor a hero. He was a common man that made some bad choices in life and was later sacrificed due to his faults and the system he got wired in.
Following the big hit of 1992, Harshad Mehta and his wife, Jyoti Mehta won their legal battle against a stockbroker named Kishore Janani who had to pay INR 6 crore to them. Jyoti claimed the amount with 18% interest, which got them around INR 500 crores in valuation.
Harshad Mehta died in 2001 when he was 47 years old. During his death, he was imprisoned in criminal custody in Thane prison. He is survived by his wife and son now.